The update was provided by Collete Kress, chief financial officer of NVIDIA, who said the company’s first-quarter FY2022 revenue will be well above its initial guidance released earlier this year, and that products for cryptocurrency mining have played a crucial role in this regard.
NVIDIA mining GPUs, worth 100 million?
At the end of fiscal fourth quarter 2021, NVIDIA reportedly provided a profit estimate of $ 5.3 billion with a variance of about 2%. Now NVIDIA updated that estimate at last night’s investor conference, and they expect the revenue they’ll get in the first quarter to be a lot more comfortable than they’ve ever been. ‘had originally planned thanks to the launch of GPUs for mining.
“While our fiscal first quarter of 2022 is not yet complete, total first quarter revenue is above the $ 5.3 billion forecast provided at the year-end conference. We know great strength at scale, with all of our market platforms guiding our initial outlook. ” Colette Kress, CFO of NVIDIA.
However, there seems to be a lot more to this story than just “all” NVIDIA’s market platforms have increased their revenue, and that is that according to a slide that Kress herself shared at the conference, the mining products are the main objective that is driving this increase in income.
Mining GPUs do not interfere with gaming GPUs
After providing an update on the company’s revenue forecast, the executive also assured listeners that while revenues from cryptocurrency mining products are expected to be higher this quarter, CMPs (Crypto Mining Processors) do not interrupt your regular supply of products, but are complementary.
He also provided additional details on the GPU supply, noting that NVIDIA expects demand to eventually exceed supply during this year; they expect the company to be able to acquire sufficient supplies to ensure that this fact increases its revenue beyond the first quarter.
In other words, according to NVIDIA, the graphics for mining they are launching in the market lately are not at the expense of the offer of GPUs for the game but rather a complementary product that does not interfere at all. in the situation of the Other. Of course, they also said they are hopeful that the shortage will finally end before the end of this year … let’s see if that’s true.